Business is More Exciting Than Any Game

Many small businesses operate as LLCs. But owners of LLCs are treated as self-employed persons who are subject to the full 15.3% self-employment tax.

If your business is an S corporation, you can be an employee of your business, so that you won't be treated as a self-employed person.

Should you consider converting your LLC to an S corporation to possibly save money on self-employment taxes? What are the concerns? What are the steps you should take? Do you know the biggest trap to conversion from an LLC to an S corporation?

Listen to today's episode to learn more about what is involved in changing from an LLC to an S corporation for federal income tax purposes, the right way.

What is the most important provision in the foundational agreement among the co-owners of a small or mid-sized business?

The answer: a well-thought out and thoroughly negotiated buy-sell provision.

This episode of Business is More Exciting Than Any Game focuses on the sometimes neglected but vitally important buy-sell provision.

More and more business is being conducted electronically. Can you even remember what business life was like before email?

But what about contracts and email--can you enter into an enforceable contract by email, either intentionally or unintentionally?